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Cash, Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2015

Cash, Cash Equivalents and Marketable Securities [Abstract]

Summary of investments in cash, cash equivalents and marketable securities

The following table summarizes our investments in cash equivalents and marketable securities held by investment managers and overnight investments:



	December 31,
	2015			2014
	(in thousands)
Overnight holdings:
Money market funds (cash equivalents)	$	247,720		$	271,840
Investment holdings:
Money market funds (cash equivalents)	26,048			14,125
Marketable securities	9,875			28,631
	283,643			314,596
Cash held in demand accounts	19,377			20,369
Outstanding checks	(23,607		)	(29,878		)
Total cash, cash equivalents and marketable securities	$	279,413		$	305,087

Cash and cash equivalents	$	269,538		$	276,456
Marketable securities	9,875			28,631
	$	279,413		$	305,087

Summary of fair value measurements of financial assets

The following tables summarize the levels of fair value measurements of our financial assets:



	Fair Value Measurements
			(in thousands)
	December 31, 2015		Level 1		Level 2		Level 3
Money market funds	$	273,768	$	273,768	$	—	$	—
Municipal bonds	9,875		—		9,875		—
Total	$	283,643	$	273,768	$	9,875	$	—



	Fair Value Measurements
			(in thousands)
	December 31, 2014		Level 1		Level 2		Level 3
Money market funds	$	285,965	$	285,965	$	—	$	—
Municipal bonds	28,631		—		28,631		—
Total	$	314,596	$	285,965	$	28,631	$	—

Summary of available-for-sale securities

The following is a summary of our available-for-sale marketable securities:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
			(in thousands)
December 31, 2015
Municipal bonds	$	9,875	$	3	$	(3	)	$	9,875

December 31, 2014
Municipal bonds	$	28,626	$	16	$	(11	)	$	28,631

Contractual maturities of marketable securities

As of December 31, 2015, the contractual maturities of our marketable securities were as follows:



	Amortized Cost		Estimated Fair Value
	(in thousands)
Less than one year	$	7,341	$	7,341
One to five years	2,534		2,534
Total	$	9,875	$	9,875

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

+ References + Details